Following my recent article published on Seeking Alpha, shares in TeleNav (TNAV) have been moving higher, currently trading at $16.57/share, originally (at time of publication) at $14.43, up 14.8% in 9 days.

There is justification for this. The company still has plenty of upside, as the current free-cash-flow-yield, upon which the initial analysis was founded, remains at around 25%. Additional positive fundamental metrics in favor of TNAV include a price-to-earnings-growth ratio of 1.34, zero debts on the balance sheet, over $210m in cash (on balance sheet), year-on-year sales growth over the last five years. Even if the sales drop, the most supportive metric in favor of the business remains the cash-flow-to-enterprise-value.

The stock is moving higher on consistently strong volume, despite the overall market downturn. I am long TNAV (fully hedged by short SPY).